The USD/JPY pair fell during the course of the session on Tuesday, breaking down below the 120 level. Because of this, looks as if the market is ready to continue dropping a little bit, but there is significant support at the 118.50 level. Any type of supportive candle is a reason enough for us to go long of this market as the US dollar continues to be the favored currency around the world at the moment. Ultimately, we believe this market heads to the 122 handle level. After that, we believe that the market goes to the 125 level.
